Time is Running Out: Use the FY23 Instant Asset Write-Off with BreedELITE Today
The clock is ticking, and the end of the financial year is fast approaching. This means that it’s crunch time for you to take advantage of the instant asset write-off for FY23. If you’ve been considering upgrading your sheep operation with the BreedELITE Sheep System, now is the perfect time to act.
As part of the Australian Government’s incentive to support small businesses, the instant asset write-off for FY23 allows you to immediately deduct the full cost of eligible assets. However, this generous offer is set to change on June 30, 2023. From July 1, the instant write-off deduction drops to only $20,000. This is a significant reduction, so it’s crucial to act now to reap the full benefits.
If this isn’t reason enough, with the electronic tagging mandate fast approaching, and no state governments committing to providing rebates, this is currently the best opportunity to get an industry-leading system at a discount.
What is the Instant Asset Write-Off?
The instant asset write-off is a tax deduction that allows small businesses to write off the full cost of any eligible business assets. Assets must be first used or installed and ready for use before the 30th of June 2023. This initiative was introduced as part of the Australian Government’s response to the economic impact of COVID-19, with the aim of encouraging businesses to invest in their growth by purchasing new assets.
For FY23, the deductible amount is uncapped, meaning that you can immediately deduct the full cost of the BreedELITE Sheep System from your taxable income. This can significantly reduce your tax bill, freeing up cash that can be reinvested back into your sheep operation.
If your order is placed before the last week of June we will be able to have it delivered this month and as such qualify for the write-off.
The BreedELITE Advantage
At BreedELITE, we have created a precision Sheep Management System that enables commercial breeders, stud, and feedlot operations to make better decisions based on data, not guesswork. Born out of 35+ years of specialist sheep farming consultancy, innovation, and cutting-edge technology, the BreedELITE Sheep System allows you to drastically increase sheep farm productivity without the frustrations of unsupported and incompatible technologies.
Our unique pedigree and performance recording software combines with our very own Australian Made Automatic Drafting and Weighing Machine to create the very first ‘all-in-one’ Precision Sheep System. This comprehensive solution makes elite sheep farming easier, more profitable, and more enjoyable.
Last Chance to Act
To be eligible for the instant asset write-off, the equipment needs to be delivered in June. So, if you’re considering an upgrade to the BreedELITE Sheep System, the time to act is now. Book a chat with one of our sheep tech and data specialists and see if the system is right for you to hit next financial year running.
Remember, the instant asset write-off is a tremendous opportunity for sheep farmers to invest in their business’s growth. By upgrading to the BreedELITE Sheep System, you’ll not only gain a cutting-edge tool that can help boost your productivity and profitability but also secures a significant tax deduction that can benefit your bottom line.
The BreedELITE team is here to support you every step of the way. We can provide more information about our products and guide you through the process of upgrading your sheep farming operation. Don’t wait until it’s too late – take advantage of the FY23 instant asset write-off today and equip your farm with the tools it needs to thrive.
To learn more about the instant asset write-off and how the BreedELITE Sheep System can benefit your farming operation, contact our team today.
*Disclaimer: This information is general in nature and does not constitute financial advice. Please consult with a registered
tax agent or financial advisor to get advice tailored to your circumstances.